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Alkemy will supply 500,000 sq. ft. of its surface protector to seal the 15-kilometer long critical infrastructure tunnel that will run from Haifa Port to Tirat Hacarmel
BEIT SHEAN, Israel, Sept. 23, 2021 /CNW/ - Alkemy (K.B. Recycling Industries Ltd.)_(www.alkemy.solutions) ("Alkemy" or, the "Company"), (TSXV: AKMY) (TSXV: AKMY.WT), the environmental plastic recycling technology company, today announced it will supply its sealing protection sheets made out of 100% recycled plastic to the Haifa Cross-Carmel Infrastructure Tunnel, the first of its kind, and one of the most significant infrastructure projects in Israel.
The 15-kilometer Infrastructure Tunnel will carry fuel, natural gas, chemicals, sewage and electricity from Haifa Port to Tirat Hacarmel. The first of its kind, it will replace old infrastructure with a top-of-the-line pipeline that will prevent underground leakage, contamination of water reservoirs, air pollution and exposure of the city's population to harmful chemicals.
Alkemy has already supplied 250,000 sq. ft. and will provide another 250,000 Rhino surface protection sheets made of 100% recycled plastic bags in an innovative one-step recycling process. The sheets seal the tunnel, preventing leakage and preserving the integrity of the internal pipes.
"We are proud to be part of this landmark project," says Shumlik Porre, Alkemy's CEO. "Transferring hazardous materials and utilities is a big challenge for port cities all over the world, and Haifa is leading with this multi-system infrastructure tunnel project."
"Sustainability and environmental safety are part of Alkemy's DNA, and we are looking forward to participating in similar projects around the world."
About Alkemy (K.B. Recycling Industries Ltd.)
Alkemy is an environmental technology company based in Israel that has developed a unique plastic recycling process for plastic bags and sheets traditionally not considered economically viable for recycling. As such, it has become one of the most significant plastic pollutants in the world. Alkemy employs a dynamic one-step process that does not require separate recycling and production plants. Instead, Alkemy's method includes both recyclings and finished product manufacturing in a single process called "waste-to-product," allowing Alkemy to reduce the cost of recycled plastic as raw materials and increase the profit margin per metric ton.
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information may relate to the Company's future financial outlook and anticipated events or results and may include information regarding the Company's financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding the Company's expectations of future results, performance, achievements, prospects or opportunities or the markets in which the Company operates is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "budgets", "scheduled", "estimates", "outlook", "forecasts", "projects", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" occur. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.
Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, risks and uncertainties associated with market conditions and the satisfaction of all applicable regulatory requirements, as well as risks and uncertainties associated with the Company's business.
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in such forward-looking information. The opinions, estimates or assumptions referred to above and the risk factors described in the "Risk Factors" section of the Management's Discussion and Analysis of the Company dated April 30, 2021 should be considered carefully.
Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information,. The Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE K.B. Recycling Industries Ltd.
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